Explore Industry Resources



BNC has curated a vast collection of technical and industry white papers covering;

  • Blockchain applications & use cases
  • Cryptography
  • Consensus mechanisms
  • Digital currencies
  • Distributed ledger technology (DLT)
  • and much more

This selection of research has been arranged in alphabetical order by organisation or application title. Feel free to explore and share these resources.


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These are publicly available documents from Blockchain applications, Cryptocurrencies and/or Universities/academic research and all copyrights go to the respective authors/organisations of each paper. If you would like to contribute to our research by suggesting a relevant paper, or to leave feedback, drop us a note on contact@bravenewcoin.com.  Alternatively, you can submit your research here.


The 100% Land-backed Crypto-coin


The purpose of our coin is to establish and fund development of our tax free city outside the United States. Our crypto-coin is a key tool that allows us to achieve this goal. The coin is backed by the land of the city and is accepted as payment for tax-free residential land, business leases, and tuition at the University-to-be—Kissland University. Who wants to live on a cramped seastead, when there is plenty of land for millions to enjoy in the right tax-free framework?

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An Introduction and Technical Understanding of Blockchain Technolgy. Blockchain Primer


This research report is an introduction into blockchain technolgy, explores innovative models and delves into the technical understanding of the distribued ledger technolgy.

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Kudos: A Peer-to-Peer Discussion System Based on Social Voting


The Kudos whitepaper describes a peer-to-peer discussion system that uses a blockchain for tracking users’ points which are mapped to specific content, and a distributed hash table for storing/serving content. Points are minted through the mining process which achieves consensus on the chain to accept. Peers only accept transactions (aka votes) of a universal constant amount. Fees for the miners are also constant to prevent self-promotion. Users earn points either by mining or by posting relevant content that others are willing to upvote.

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The Bitcoin Lightning Network

Lightning Network - Joseph Poon, Thaddeus Dryja

The bitcoin protocol can encompass the global financial transaction volume in all electronic payment systems today, without a single custodial 3rd party holding funds or requiring participants to have any more than a computer on a home broadband connection. A decentralized system is proposed whereby transactions are sent over a network of micropayment channels (a.k.a. payment channels or transaction channels) whose transfer of value occurs off-blockchain. If Bitcoin transactions can be signed with a new sighash type which addresses malleability, these transfers may occur between untrusted parties along the transfer route by contracts which are enforceable via broadcast over the bitcoin blockchain in the event of uncooperative or hostile participants, through a series of decrementing timelocks.

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MaidSafe: Autonomous Network

MaidSafe - David Irvine, Fraser Hutchison, Steve Mücklisch

Autonomous networks are self- healing, self-managing and most importantly independent of human interference. Such networks will be able to be developed in a way that avoids wasting effort on maintaining even simple mechanisms such as storage, scalability and data retention. Systems like these will quickly extend to providing a method of highly scalable platforms that can accommodate real time transactional logic. A working example of an autonomous network is outlined in this paper.

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MaidSafe: DHT-based NAT Traversal

MaidSafe - David Irvine, Fraser Hutchison, Steve Mücklisch

Today’s Distributed Hash Tables (DHT’s) and other overlay networks are based on operating without hindrance of real world issues regarding connectivity between nodes. This is not a problem when operating in a private or controlled environment, but in the transition to peer to peer or fully distributed networks, it becomes a major headache. This paper introduces a pure p2p solution to Network Address Translation (NAT) traversal, which is probably the main problem facing public p2p networks.

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MaidSafe Distributed File System

MaidSafe- David Irvine

Distributed file systems require servers or control nodes. Access to a file system is a security issue that can apparently only be controlled by some kind of authority, and this is always a potential point of failure. These file systems also require an indexing mechanism. This paper presents a distributed file system without centralised control or indexing. This file system also utilises a distributed locking mechanism to ensure data integrity in the case of multi-user access to any file.

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MaidSafe Distributed Hash Table

MaidSafe- David Irvine

An effective distributed network requires an addressing mechanism and distribution of data that is designed to overcome churn (the unmanageable outage, node failure or unforeseen communication fault). There are several implementations of such a system, but this paper proposes a system that not only provides an efficient churn-resistant DHT, but also has fast awareness of infrastructure changes. This allows the implementation of a locking system, thereby enabling amendment of data from multiple sources.

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Security of the MaidSafe Vault Network

MaidSafe - Greig Paul, Fraser Hutchison, James Irvine

The MaidSafe network is an open-source, decentralised, autonomous network for data storage and retrieval by end user applications. All data is stored on the network within vaults, which are member nodes of a self-managed network resembling a distributed hash table (DHT). We explore the design of the vault network, including the self-managing nature of both vaults and data, and attack vectors worth consideration and further research.

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MaidSafe: Self-Authentication

MaidSafe - David Irvine

Today all known mechanisms that grant access to distributed or shared services and resources require central authoritative control in some form, raising issues in regard to security, trust and privacy. This paper presents a system of authentication that not only abolishes the requirements for any centrally stored user credential records, it also negates the necessity for any server based systems as a login entity for users to connect with prior to gaining access to a system.

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The Second Bitcoin Whitepaper vs. 0.5

Mastercoin - J. R. Willett 

The “MasterCoins” protocol layer between the existing bitcoin protocol and users’ currencies is intended to be a base upon which anyone can build their own currency. The software implementing MasterCoins will contain simple tools which will allow anyone to design and release their own currency with their own rules without doing any software development.

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MazaCoin: First National Sovereign Crypto Coin 

MazaCoin - AnonymousPirate

Mazacoin was conceived by Payu Harris and cryptocurrency developer Anonymous Pirate in the winter of 2013. Payu formed the BTC Oyate initiative, and signed a Memorandum of Understanding with the Oglala Sioux Tribe, Office of Economic Development, which resulted in the creation of Mazacoin. In late February of 2014 the genesis block was mined and the MazaCoin Blockchain officially put into service.

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Digital Laundry - An analysis of online currencies, and their use in cybercrime

Mcafee - Raj Samani,François Paget and Matthew Hart

Although money laundering and cyberattacks are the focus of this paper, electronic currencies also act as the main
method of payment for illicit products such as drugs, as well as for other products and services that enable cybercrime.

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"Immutable Me” A Discussion Paper Exploring Data Provenance To Enable New Value Chains

Meeco George Samman & Katryna Dow

The movement from User Centric Identity to Self Sovereign Identity is underway and becoming a key trend for the future of how individuals will control their own attributes. Using blockchain technology to record data provenance, Meeco is working at the forefront of this movement and currently working on a proof of concept that allows individuals to add verification and provenance attestations to their data attributes. This is in addition to the existing permission management of their attributes.

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Anonymity for Bitcoin with accountable mixes

Mixcoin - Joseph Bonneau, Arvind Narayanan, Andrew Miller, Jeremy Clark, and Joshua A. Kroll and Edward W. Felten

We propose Mixcoin, a protocol to facilitate anonymous payments in Bitcoin and similar cryptocurrencies. We build on the emergent phenomenon of currency mixes, adding an accountability mechanism to expose theft. We demonstrate that incentives of mixes and clients can be aligned to ensure that rational mixes will not steal. Our scheme is efficient and fully compatible with Bitcoin. Against a passive attacker, our scheme provides an anonymity set of all other users mixing coins contemporaneously. This is an interesting new property with no clear analog in better-studied communication mixes. Against active attackers our scheme offers similar anonymity to traditional communication mixes.

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Review Of CryptoNote White Paper

MoneroNicolas van Saberhagen

This document is not intended as financial advice; it is one mathematician’s take on the white paper before digging into the code. 

CryptoNote v 2.0  | | CryptoNote v 2.0 Annotated

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A Note on Chain Reactions in Traceability in CryptoNote 2.0 

Monero - Surae Noether, Sarang Noether and Adam Mackenzie

This research bulletin describes a plausible attack on a ring-signature based anonymity system. We use as motivation the cryptocurrency protocol CryptoNote 2.0 ostensibly published by Nicolas van Saberhagen in 2012. It has been previously demonstrated that the untraceability obscuring a one-time key pair can be dependent upon the untraceability of all of the keys used in composing that ring signature.

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Counterfeiting via Merkle Tree Exploits within Virtual Currencies Employing the CryptoNote Protocol 

Monero - Jan Macheta, Sarang Noether, Surae Noether and Javier Smooth

On 4 September 2014, an unusual and novel attack was executed against the Monero cryptocurrency network. This attack partitioned the network into two distinct subsets which refused to accept the legitimacy of the other subset. This had myriad effects, not all of which are yet known. The attacker had a short window of time during which a sort of counterfeiting could occur, for example. This research bulletin describes deficiencies in the CryptoNote reference code allowing for this attack, describes the solution initially put forth by Rafal Freeman from Tigusoft.pl and subsequently by the CryptoNote team, describes the current fix in the Monero code base, and elaborates upon exactly what the offending block did to the network.

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Monero is Not That Mysterious

Monero - Shen Noether and Sarang Noether

The purpose of this note is to try and clear up some misconceptions, and hopefully remove some of the mystery surrounding Monero Ring Signatures

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Improving Obfuscation in the CryptoNote Protocol

Monero - Adam Mackenzie, Surae Noether and Monero Core Team

We identify several blockchain analysis attacks available to degrade the untraceability of the CryptoNote 2.0 protocol. We analyze possible solutions, discuss the relative merits and drawbakcs to those solutions, and recommend improvements to the Monero protocol that will hopefully provide long-term resistance of the cryptocurrency against blockchain analysis

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Ring Confidential Transactions

Monero - Adam Mackenzie, Surae Noether and Monero Core Team

In this article, a new type of ring signature, A Multi-layered Linkable Spontaneous Anonymous Group signature is described which allows for hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation. Some extensions of the protocol are provided, such as Aggregate Schnorr Range Proofs, and Ring Multisignature.

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MultiChain Private Blockchain

MultiChainDr Gideon Greenspan

MultiChain is an off ­the­ shelf platform for the creation and deployment of private blockchains, either within or between organizations. It aims to overcome a key obstacle to the deployment of blockchain technology in the institutional financial sector, by providing the privacy and control required in an easy ­to­ use package. Like the Bitcoin Core software from which it is derived, MultiChain supports Windows, Linux and Mac servers and provides a simple API and command­line interface. 

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The First Secure, Cost-efficient and Decentralized Cryptocurrency

NeucoinKourosh Davarpanah, Dan Kaufman, Ophelie Pubellier

NeuCoin is a decentralized peer-to-peer cryptocurrency derived from Sunny King’s Peercoin, which itself was derived from Satoshi Nakamoto’s Bitcoin. As with Peercoin, proof-of-stake replaces proof-of-work as NeuCoin’s security model, effectively replacing the operating costs of Bitcoin miners (electricity, computers) with the capital costs of holding the currency. Proof-of-stake also avoids proof-of-work’s inherent tendency towards centralization resulting from competition for coinbase rewards among miners based on lowest cost electricity and hash power.

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Peer-to-peer Private Cryptographic Currency with Integrated Tor Hidden Services

NeutrinoAdam King, John Reitano

Neutrino is a private cryptographic currency based on Litecoin, a variation of Bitcoin that replaces the SHA256 hashing algorithm with Scrypt for proof-of-work. Tor, an open-source software for enabling online anonymity and resisting censorship, is directly integrated into the core protocol as a hidden service, enabling nodes in the network to communicate anonymously. The resulting distributed network is highly resistant to third party eavesdropping and censorship. Neutrino is implementing Mixcoin in 2014 to ensure transactional privacy on top of the identity privacy provided by Tor.

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Corporate Colored Coins

Noble - Jason Curby

This paper lays out the framework for which a complete crypto-centric ecosystem, linked services and industry standards might be established for the sole purpose of increasing real-world demand, exposure and utility of its associated colored coin. It also theoretically examines how a more traditional crypto-centric corporation may be established while navigating the legal and regulatory complexities coming as blockchain technology matures into 2015.

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Node Incentives: An Autonomous Decentralised Incentive and Donation System

Node Incentives - John Connor

In this document I propose a autonomous decentralised incentive and donation system using the security of the blockchain to determine the winner.

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Nu Whitepaper

NuJordan Lee

While Bitcoin is a first generation cryptoasset, Peercoin was the beginning of the second generation defined by proof of stake. Nu heralds a third generation of cryptoassets featuring stable value managed by shareholders.

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Nxt Whitepaper - Revision 4 – Nxt v1.2.2 

NXT - Created by the Nxt community

Nxt is a 100% proof-of-stake cryptocurrency, constructed from scratch in opensource Java. Nxt’s unique proof-of-stake algorithm does not depend on anyimplementation of the “coin age” concept used by other proof-of-stake cryptocurrencies,and is resistant to so-called “nothing at stake” attacks. A total quantity of 1 billion available tokens were distributed in the genesis block.

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